Published: Sat, October 14, 2017
Markets | By Noel Gibbs

BMW, China's Great Wall in possible EV joint venture

BMW, China's Great Wall in possible EV joint venture

A BMW executive familiar with the matter told Reuters the report was "generally true".

While BMW already builds cars locally in a venture with Brilliance China Automotive Holdings Ltd, Great Wall doesn't have any carmaking partners in China.

BMW's China sales grew 11.3 percent a year ago. BMW is trying to stay ahead of third-place Daimler's Mercedes-Benz, which recorded 26.6 percent growth in China sales in 2016 thanks to a fresher model lineup. Rolls-Royce however, saw a decrease in sales of 10.7 percent to 2,343 units, but it's worth noting the Phantom is missing from the brand's lineup now as the new model is getting ready to roll out starting next year. The company already has an alliance with Brilliance Auto to produce its range of cars, including China-only models.

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Findings obtained in that process have led to a separate line of inquiry involving Al-Khelaifi, who is CEO of beIN Media Group. Al-Khelaifi's rising status in European soccer has seen him earn a seat on UEFA's strategy panel as a delegate of top clubs.

Great Wall Motor said it was in talks with BMW to cooperate on vehicles, including those the German firm produces under the Mini brand, and that the pair have not yet agreed on any new ventures.

"China has made it clear that basically it will not approve of new gasoline-car partnerships". Sergio Marchionne, CEO of FCA said his company won't consider selling Jeep as a separate entity and rejected the idea of making a deal with Chinese rival Great Wall Motor Co, reports Bloomberg.

Subsequently, Hyundai was also linked as a buyer to Jeep brand. Local media speculation of a tie-up with BMW sent its shares soaring 14% Wednesday, prompting suspension in trading.

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It was shot by Apple Music , as part of their Carpool Karaoke series. Bennington died July 20th of a suicide by hanging. Bennington's band will be hosting a benefit concert in his memory on October 27 at the Hollywood Bowl in California.

Brilliance China Automotive's shares were down 2.76 percent.

Patrick Yuan, an analyst at Jefferies Hong Kong, said it is understandable that BMW needs a new partner to defend its market share in a more competitive market.

Jessica Chambers Trial: Teen Revealed Killer's Name Before Dying, Firefighters Say
Quinton Tellis, 29, right, is accused of killing the former high school cheerleader from Courtland, Mississippi. Chambers had burns to 98% of her body and was airlifted to a Memphis hospital where she died.

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